I told my family. Either Bitcoin makes me a millionaire or it doesn't make me much. That said, I took out my initial investment last year, and plan to take out my tax free allowance this year, and next year. If Bitcoins gets to £1000, that will be nearly 11 coins down this year, but it will pay for a good holiday and a chunk of our mortgage. I sold less than 0.1BTC today at a price of £700 per BTC to help build my reputation on an  exchange and a relative who had begged me to cash in previously told me I was stupid as the price will surely get above £1000 soon. I just tune out other people's advice on Bitcoins. I am bullish but slightly cautious. I expect Bitcoins to reach £10,000 and £10 within the next decade, both are actually possible next year hence I shall take out my £10900 tax allowance this year and loose 10-20 coins.

Atl coins that provide no new value over bitcoin, but are simple copies, IMHO are the biggest threat to bitcoin in general. I have a ready response to all the doubters questions except for the proliferation of alt coins...

This litecoin shit makes no sense to me, the market cap is now approaching 10% the market cap of bitcoin. I have heard litecoin supporters blather a million times why litcoin should have value, but I still don't see it. Why not just use bitcoin? The faster confirmation shit is flat out deception. I suppose this litecoin rally could simply be a manifestation of humanity's psychological and logical weakness with regard to integer unit prices ($900 is too "expensive", $30 is so much more "reasonable"... Sigh).  But markets can only up put with the collective stupidity of humans for so long. Reality always comes back, it is just a question of when. I would be very very surprised if there was not a heavy correction in the LTC/BTC rate soon.

Impossible. We will simply party twice. Hell... btce will give us a third reason to party!

And then don't forget the au parity party.

Compared with the situation a week ago, Bitstamp has a lot more fiat now. That allowed it to climb 120$ higher than the theoretical peak.

In Spanish, the words for "inversion" and "investment" are the same. Makes sense, because when making an investment you are giving away your money with no immediate benefit, hoping for more in the future. You are not buying what it is, but what you think it will be.

I do not think that "risk management" strategies are sound for BTC. In my book the only way to go is the following:

Invest in BTC an amount you are ready to lose

Don't forget to realize some fiat profits, because unrealized profits = non-existent profits.

Practical example:

Somebody that invested in January this year has already a 50x unrealized profit. Wise thing in my book would be to sell at least 10% of the BTC, cashing in a healthy 5x profit on the initial investment, while keeping 90% of the BTC for the next cycle.

I'm using this strategy myself, with a clear exit plan I tend to follow strictly. I was lucky because I managed to reach x100 in the last run-up (BTC doubled 3 times in 4 weeks), but I would have cashed out even at x50.

I revised my bitcoin logistic adoption price analysis charts to combine four possible scenarios on one chart ..



red - assume a $5,000,000 maximum bitcoin price when fully adopted by financial speculators
orange - $1,000,000
green - $100,000
blue - $40,000

I also re-fit each case to more accurately pass through the final price history data point. It is clear now that the exponential portion of the logistic curve, i.e. the straight line on the log chart, does not predict the maximum price. Here are the corresponding price targets summarized ...



The key result of this analysis is that we should not expect the current exponential growth of bitcoin prices to last more than 36-48 months - even under the most bullish imaginable scenario. Buy sooner rather than later is my obvious conclusion.

The shared spreadsheet containing commentary, calculations and charts can be viewed, or copy/edited, at ...

https://docs.google.com/spreadsheet/ccc?key=0ArD8rjI3DD1WdGhDN3FBWFptTlZTREN0cFkxZ3JHTnc

I don't think you are responsible to say these to a 13 years old young man. It's not funny. Money is not the only thing in one's life.

You are 13 and have a few years so you need to plan for the possibility don't need to worry that bitcoin prices could crash.

I am uber bullish but you need to only invest would you can afford to lose invest enough so it makes a difference. A college education is not something you should risk losing. An opportunity like this is not something you should risk losing.

If you keep your money in bitcoins be sure to work hard in school you won't have to work hard in school and make sure that even if you have no money for college that you can qualify for scholarships because of your good grades. and will be able to travel the world thanks to being financially independent.  

Then you contradict yourself. You say that you like to read books. Your motivation to invest in bitcoins shows that you not only like to read books but you analyse what you read as well. Then you should know that the education is a very good investment.

Good luck buying an all time high.